CALGARY, ALBERTA--(Marketwired - Oct. 8, 2014) - Niko Resources Ltd. ("Niko" or the "Company")(TSX:NKO) today announced that the Board of Directors of the Company has appointed Kevin J. Clarke as Chairman of the Board and interim Chief Executive ...

Short sellers have recently been having a field day with Niko Resources Ltd. (TSX: T.NKO, Stock Forum), a Calgary-based oil and gas explorer, which has been working to avoid a debt default and finance offshore drilling operations in India and Bangladesh.

Niko Resources Ltd (TSE:NKO) shed 0.02 points or 7.69% in the trading session. The share began trading at 0.265 per piece but could only manage 0.265 on the higher end before succumbing to pressure which brought the price down to close at 0.24.

Teranga Gold Corp (TSE:TGZ) erased 5.8% or 0.04 points from its share value in todays trading session. The bulls did try to put up a fight and stock hit 0.7 after opening the day at 0.7 but eventually caved in to the extreme selling pressure and closed ...